Dublin Industrial Market Dynamics, Q4 2025

Q4 2025 recorded a strong uplift in industrial leasing activity, with volumes increasing by 47.5% quarter-on-quarter. Take-up in the quarter was also 52% above the Q1–Q3 quarterly average, reflecting a sustained recovery in market activity, with 32 deals completed.

Rental performance continues to highlight the structural strength of the market. Prime rents have increased by 38% since 2020, reaching €13.50 per sq.ft. in Q4 2025, while secondary rents have risen more sharply, up 72% over the same period to €12.50 per sq.ft. This compression reflects sustained occupier demand and limited availability across both prime and secondary stock.

Supply is expected to remain constrained in the near future, with a limited development pipeline primarily consisting of pre-let or built-to-specification projects. At the end of December, there was over 890,000 sq.ft. marked as reserved and many in advanced stages negotiations.